PSB : Pat Heier named VP of PSB Holdings, Inc.

Investor Relations Contact PSB Holdings, Inc.

1905 Stewart Avenue Wausau, WI 54401 888.929.9902

Stock Symbol: PSBQ | Real-Time Quotes:www.OTCmarkets.com

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FOR IMMEDIATE RELEASE

Pat Heier Named Vice President of PSB Holdings, Inc.

Wausau, Wis. - January 31, 2019 - PSB Holdings, Inc. ("PSB") (OTCPK: PSBQ), the holding company for Peoples State Bank ("Peoples"), announced that Pat Heier has been appointed as vice president of PSB Holdings, Inc., by the board of directors. Heier will continue to serve as senior vice president, commercial banking group leader of Peoples State Bank.

"Pat's dedication and drive in commercial banking over the past 12 years has helped lead Peoples forward in our strategic plan," said Bill Fish, chairman of the board of directors. "His appointment as vice president of PSB Holdings also serves as recognition of the importance of our commercial business and customers to our success."

Heier, who joined Peoples in 2007, has been instrumental in growing the bank's commercial loan and deposit portfolios while maintaining high credit quality. He's leveraged his 30 years of banking experience at both large national and community banks to increase Peoples' net income and asset growth. And he's been instrumental in PSB's growth strategy, leading the startup of Peoples Milwaukee loan production office in 2016, which has been a significant factor behind bank wide loan growth since opening.

"I appreciate the board of directors confidence in me to take on this additional holding company role," said Heier. "We have a tremendous franchise with great people which provides a solid foundation for future growth."

"Pat has been instrumental in our growth strategy to date and will help us capitalize on new markets as we move forward," said Peoples President and CEO Scott Cattanach. "Pat's banking experience will help us review opportunities with a critical eye focused on the bank's success."

Heier serves as a board member of The Women's Community, Inc., and the Wisconsin

Woodchucks. He is a big brother for the Big Brothers Big Sisters of Central Wisconsin, and has volunteered for several other Wausau area organizations and non-profits.

ABOUT PSB HOLDINGS, INC

PSB Holdings, Inc. is the parent company of Peoples State Bank. Peoples is a community bank headquartered in Wausau, Wisconsin, serving north central Wisconsin from nine full service banking locations in Marathon, Oneida and Vilas Counties, as well as commercial loan production offices in Milwaukee and Stevens Point, WI. Peoples provides financial services to business owners and individuals, as well as investment and retirement planning services through Peoples Wealth Management, a division of Peoples. Peoples was founded in 1962 and has total assets in excess of $915 million. PSB Holdings, Inc. is traded under the stock symbol PSBQ on the OTC Markets Exchange. More information about PSB, its management, and its financial performance may be found atwww.psbholdingsinc.com.

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